The Chamber of Automotive Manufacturers of the Philippines, Inc. (CAMPI) and Truck Manufacturers Association (TMA) recorded slower growth in sales of automotive vehicles at the start of the year.
A joint report of CAMPI and TMA on Monday showed vehicle sales last month grew 4 percent to 31,645 units from 30,425 units in the same period last year.
“We started the year with a modest growth of 4 percent in January 2018 against the same period last year. While this is considerably low compared to the growth rate of January 2017, we still consider January 2018 sales as satisfactory and a good start for the auto industry. We will continue our efforts in sustaining the growth momentum of past years,” CAMPI President Rommel Gutierrez said.
Year-on-year car sales growth in January 2017 was at 27 percent.
Sales of passenger cars last month decelerated by 10.9 percent to 9,790 units from January 2017’s sales of 10,984 units.
Passenger cars accounted for 31 percent of CAMPI’s and TMA’s total sales last month.
Commercial vehicles, on the other hand, had sales of 21,855 units, increasing 12.4 percent from January 2017’s sales of 19,441 units.
Sales of light commercial vehicles remained robust, growing 23.3 percent with 15,218 unit sales in January 2018 from 12,340 units in the same month last year.
Asian utility vehicle sales in January declined 3.6 percent year-on-year to 5,811 units from 6,026 units.
Light trucks, as well as trucks and buses category five, likewise posted decrements in unit sales at 38.7 percent and 18.5 percent, respectively, to 386 for light trucks and 141 units for trucks and buses category five.
Trucks and buses category four registered 9.9 percent year-on-year growth with 299 unit sales last month from 272 units in January 2017.
Toyota Motors Philippines Corp. still led the market with a 42-percent share last month despite sales dipping 9.1 percent to 13,217 units.
Mitsubishi Motors Philippines Corp. was the market’s second top brand in January 2018, with sales rising 36.7 percent to 6,757 units.
This was followed by Ford Motors Corp., Honda Cars Philippines, Inc., and Nissan Philippines, Inc.